Galaxy Research Research Director Alex Thorn said that Bitcoin has risen above the 50-week moving average, showing a bullish trend. He noted that historically, a breakout above this moving average is an important signal confirming that the bottom of the bear market has formed, but it is still necessary to watch whether the weekly close on Sunday is above the moving average to further confirm. The chart he shared shows that the price of Bitcoin is around $80,876, while the 50-week moving average is about $79,456.